In 2007, Illinois passed a law to tax customers and spend that taxation on energy efficiency. ComEd, People’s Gas, Northshore Gas, and Nicor Gas all spent incentive and rebate money out of the tax collected on each utility bill. This spending ultimately reducing energy usage with each tax dollar spent. This program through the electric utility was branded the ComEd Smart Ideas Program. Now referred to as the Comed Energy Efficiency Program
In December 2016, Illinois doubled down on this successful ComEd energy efficiency program and increased this spending to almost $400 million annually. This law is commonly referred to as the Future Energy Jobs Act. This law was passed by an unlikely coalition in Illinois – Exelon (ComEd’s parent company), environmentalists, groups focused on job growth (including Governor Rauner), as well as other small groups.
Job growth in Illinois due to this ComEd rebate program is significant, including Verde in Chicago. All of our team of Chicago energy efficiency experts have jobs from this spending. A significant amount of our revenue is generated by partnering with ComEd on various programs for business. In fact, not to braggadocious but we were awarded the 2017 ComEd Trade Ally Partner of the Year award recently.
There are a variety of ComEd rebate programs, including those for businesses and residential. Business energy efficiency rebates focus on LED lighting, and refrigeration improvements (including EC Motors with Evaporative Fan Speed Controls), HVAC, smart thermostats, and compressed air measures. The ComEd Smart Ideas energy efficiency program and incentives help reduce the cost to upgrade to energy efficiency measures. The rebates cover 50-75% of the cost of upgrades. Up to 100% of the cost for some items are possible for businesses classified as 0-100kW in their usage.
Residential rebates include free energy audits, refrigeration recycling programs, and smart thermostat discounts. There are additional incentives, such as new appliance incentives. There is also a marketplace to purchase reduced price LEDs and Smart Thermostats available to ComEd residential customers.
ComEd spends this money because it is required by law. However, they do support this program fairly enthusiastically because of the goodwill generated for their customers through this program. Since we all pay into this tax program, if you do not participate, you are funding your neighbor’s energy efficiency. In fact, if you operate a business, you are funding improvements to your competition. So please reach out to us today for a free energy efficiency assessment.
